USA Mega

Ohio Powerball Jackpot Annuity Payout Schedule for Dec 24, 2011

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The tax information provided here is based on 2024 federal marginal rates and state tax rates.  It shows the final federal and state tax burdens each year, not the amount initially withheld by the lottery.

The Powerball annuity jackpot is awarded according to an annually-increasing rate schedule, which increases the amount of the annuity payment every year.  The table below shows the payout schedule for a jackpot of $128,800,000 for a ticket purchased in Ohio, including taxes withheld.

Please note, the amounts shown are very close approximations to the amount a jackpot annuity winner would receive from the lottery every year.  They are not intended to specify the exact final tax burden, which may vary depending on how the winner chooses to invest or dispense their money, as well as deductions claimed.

State:

Ohio

Drawing Date:Sat, Dec 24, 2011
Jackpot:$128,800,000
Federal Tax:37% marginal rate
State Tax: 3.5%
Report:Powerball annuity payout schedule (30 annual payments)

YearGross PaymentFederal TaxesState TaxesNet Payment
1$2,296,517$807,899$80,378$1,408,240
2$2,388,377$841,887$83,593$1,462,897
3$2,483,913$877,235$86,937$1,519,740
4$2,583,269$913,997$90,414$1,578,857
5$2,686,600$952,230$94,031$1,640,339
6$2,794,064$991,991$97,792$1,704,280
7$2,905,826$1,033,343$101,704$1,770,779
8$3,022,059$1,076,350$105,772$1,839,938
9$3,142,942$1,121,076$110,003$1,911,863
10$3,268,659$1,167,592$114,403$1,986,665
11$3,399,406$1,215,968$118,979$2,064,459
12$3,535,382$1,266,279$123,738$2,145,365
13$3,676,797$1,318,603$128,688$2,229,507
14$3,823,869$1,373,019$133,835$2,317,014
15$3,976,824$1,429,613$139,189$2,408,023
16$4,135,897$1,488,470$144,756$2,502,671
17$4,301,333$1,549,681$150,547$2,601,105
18$4,473,386$1,613,341$156,569$2,703,477
19$4,652,322$1,679,547$162,831$2,809,944
20$4,838,414$1,748,401$169,345$2,920,669
21$5,031,951$1,820,010$176,118$3,035,823
22$5,233,229$1,894,483$183,163$3,155,584
23$5,442,558$1,971,934$190,490$3,280,134
24$5,660,261$2,052,484$198,109$3,409,667
25$5,886,671$2,136,256$206,033$3,544,381
26$6,122,138$2,223,379$214,275$3,684,484
27$6,367,023$2,313,986$222,846$3,830,191
28$6,621,704$2,408,218$231,760$3,981,726
29$6,886,572$2,506,220$241,030$4,139,323
30$7,162,035$2,608,141$250,671$4,303,223
Total$128,800,000$46,401,633$4,507,999$77,890,368

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Note: The Net Payment total above may be a few dollars off from the total after-tax annuity amount shown on the Jackpot Analysis page because the Jackpot Analysis page shows an average annual payment, whereas we calculate an exact payment here.